Free Trial

Market Snapshot: Rates Recover Tentatively, But Risks Remain

TURKEY
  • Turkish rates have recovered slightly today after remaining under selling pressure yesterday.
  • TurkGB yields stand -13-35bp lower across the curve, while USD bond yields are down -5.4-11bp with the curve bull steepening.
  • Nevertheless, Turkey’s major commodity & supply chat exposure to both Ukraine and Russian, coupled with its deeply negative real yields and negative net reserve position leaves its economy vulnerable to a more protracted conflict.
  • USD/TRY trades +0.37% higher, just shy of the 14.00 level within a narrow range (13.80-13.9631)* the XU100 index stands +1.46% higher, having retraced 8% higher since the 24 Feb lows at 1,826.83.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.